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April 19, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > Home Furnishings Stores Loan | ||||
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Raising Money in Houston, Texas With SBA Loans
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Bank Loans for Home Furnishings StoresLooking for bank loans for home furnishings stores? An SBA loan may be just what you've been looking for. This $311,000 home furnishings stores loan was issued by a Texas bank. Getting a small business loan in Houston, Texas was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Sterling Bank, operating out of Humble, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender STERLING BANK This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 7/28/2004 Loan Approval Gross Amount $311,000 Loan Approval from the SBA Of the total $311,000 loan amount, the SBA guaranteed $155,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Banks for Humble, Texas Loans
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